Fractional reserve banking practise which began in 1694 with the issuance of debt money from The Bank of England, is reaching its final stage.
Our unstable system, a party that took place long time ago, just like every other unstable system is breaking down, we are experiencing system failure today.

Debt based money is not good for business.
Creation of money out of nothing, through the national and private debt, is an excellent business.
It cost almost nothing to produce the banknote, profit is almost 100% + interests.

Credit is a wonderful thing, entire world shared this idea until today.
Unfortunately, debt is composed of interest payments.
This is why the amount of debt is always greater than the amount of money in circulation, so it's obvious that it is impossible to repay total debt.
The fatal bug in our debt based financial and economic system is its perpetual need to expand, where greater expansion means greater debt.
We always need new debts to repay the interests on the old ones.
Perpetually growing debt and sacrifice to service its repayment are not without limits.
Debt is a great and wondrous device, until the obvious becomes official: it cant be paid back.

As without any kind of reserve behind it, money, a simple peace of paper is worth something only and as long as everyone believes, and thanks to mass media, if everyone believes it's so, than it must be true!
That "everyone believes it" is not a good reason to believe in something.
Once the people lose confidence in this peace of paper, system crashes.
Now you know why it was so much important for the people who owns the money issuing institutions, to gain a possession of mass media, communication and education systems.
Anyway, global economy is based on war and destruction.
Kill or be killed, destroy to build, infect to medicate, contaminate to clean, spend to produce, broke to repair,...
Why do you think it will get better with more debt, more lies, more killing and more destruction?

In its substance, the possibility of real choice represents the main difference between democracy and dictatorship.

In a situation where global financial crisis deepens, and where in reality, the whole world is bankrupt, you are not forced anymore to calmly and shiftlessly watching your present and your future disappear before your eyes.
You can choose to react.

$1 quadrillion of debt based financial derivatives, $99 trillions of the United States total public debt inluding unfunded liabilities from Medicare and Social Security, and $24 trillions of toxic assets of European banks are already knocking on heaven's door.

Whatever happens, whatever comes, there are only 4 simple rules you need to know and implement:

- you need money to produce
- you need money to survive
- you need consumers who have money to buy your products and services
- you need to conserve your habitat, before it's too late

So how can you implement this simple 4 rules?
How and where are you going to get this treasuries?
And much more important, how can you prevent similar situations in your and your child's future?
Well, there is one key that resolves all 4 most important problems.
And the key is monetary sovereignty.

In front of us, there is a chance to re-write history, a chance like this comes once in a lifetime.
The better you know, the better you make your choice.
Before you make your choice, there is one thing you need to know, one thing you have a right to know:

30.09.1941
Marriner Eccles, Governor of the Federal Reserve System:
"That is what our money system is. If there were no debts in our money system, there wouldn't be any money".
23.02.2009
The companies are asking money (new debts) primarily to restructure old debts and not to make new investments.
Jean-Claude Trichet, President of the European Central Bank:
"In recent weeks we have seen the first signs of falling credit (new debts) flows.
If such behaviour became widespread across the banking system, it would undermine the raison dêtre (reason to exist) of the system as a whole".
12.01.1984
What will support the services offered by the government if none of us pay Federal Income Tax?
Here is a report requested by President Ronald Reagan to see just where the tax money goes.
The Grace Commission confirms the allegation that the income tax revenues go 100% to pay the interest on the national debt and not a single nickel of it goes to the government. Whatever government services we have, they are not being financed by the income tax.

II Choice: Who are the people who have the money?

This people knows: nature is beautiful, but we need industry to live.
There is no industry without working people.
We are living in a modern age, we are more productive than ever in the world history.
Without humans, machines and robots produce so much more of everything.
We have so much more, but we are not happier.
The more modern we are, less free time we have.
Did you know: the intention of invention was our benefit, not a damage.
More than a half of our production is excessive and useless.
This people know it, and what is much more important, they are also conscious:
Crom is a global alternative currency, based on time.
By receiving every month 730 croms, they are not forced any more to spend more than a half of their working time on production of useless things that nobody needs.
This people know it, and what is much more important, they can spend their time in a better ways, with their families and on real education.
Real education will prevent similar catastrophes in the future.

In a perfect shelter against the worst moral, political and economic collapse world has ever seen, and in what is supposed to be an ideal way to achieve what you want; a better world, Crom Time Bank - multi currency payment system and marketplace represent the possibility of real choice.

Marshall McCluhan did not create the banking system, or its money: But he did put money into his concept of mass media of communication. Currency itself is the poor person's credit card. Used in certain ways, the money makes the poor person of no value, or of value.

How did the current crisis come about? Poor people were again of no value: In the various economic systems. That was computed, and known from the start. Anyone raises a rich person's wealth, the same percentage as the poor person's leavings: Then both are doomed creatures, at the outset. The poor person can't keep the rich person in money. The rich person has no money income, if the poor people on whom the rich rely--have no money.

It takes a liberal to think like that!

"Crow, James Crow: Shaken, Not Stirred!"
(It takes a village, to do exactly, what?!?" We have entire cities--and inner cities--that know better than that!"

The cart above is from the Bureau of Labor Statistics. Do you see how the line is shooting up in the air like a rocket?

The second chart takes the same info and displays the degree of the economic collapse. This is frightening as all "get out" when you see the degree of the collapse. When somebody like the Fed Secretary, Bernanke, says that we expect a turnaround in a few months, the chart calls him a liar.

Sooner or later if the system does not correct, people will stop playing by the rules.

I will be one of them.

Click to expand...

Sadly, everything the government is doing is ensuring that the system does not correct. Keeping insolvent banks and companies in operation, spending trillions on a wasteful budget, and bailing out any and all homeowners are a sure way to ensure jobs are never created again. Obama's acting just like Herbert Hoover and FDR.

Sooner or later if the system does not correct, people will stop playing by the rules.

I will be one of them.

Click to expand...

Sadly, everything the government is doing is ensuring that the system does not correct. Keeping insolvent banks and companies in operation, spending trillions on a wasteful budget, and bailing out any and all homeowners are a sure way to ensure jobs are never created again. Obama's acting just like Herbert Hoover and FDR.

Click to expand...

We'd best pray to whomsoever we pray to that you're wrong.

My roomies are all decent young men who are working and planning on going to college.

I'm not sure what happens to their mental dispositions if they decide they don't have a future but I suspect it isn't going to be pretty.

Multiply those thoroughly decent young men by millions just like them and what do you have?

Reaganomics should cure the problem. In four years you can elect that idiot from Louisianna as President he'll do it.

Click to expand...

Reagonomics had nothing to do with this mess. Tax cuts had nothing to do with this mess. The Iraq war had nothing to do with this mess. Deficit spending had nothing to do with this mess.

By allowing easy credit to anyone and everyone, the government propped up the economy from 2000 to the beginning of the burst. By giving people money that they should never have had, we inflated the value of almost everything, and then continued to borrow on those overinflated values. Because of the easy credit, we overbuilt, homes/housing in particular. Over the last five years prior to the bust, housing prices were being driven upwards because speculators were buying so many properties with the idea that they could rent or flip them. In fact, we got to a point where speculators were purchasing the equivalent of all new home construction, and this was happening before 2005.

Because of this easy credit, speculators created a market where the demand for new housing was there, due to the speculators, but there weren't actually enough people to live in all the new homes being built. Yes, we have a glut of housing right now, and it's not only because people can't afford them or can't get the credit; it's because we built more homes than we needed.

In essence, the decent economy for the first six years of the Bush administration is directly attributable to these policies, but what we were doing was not growing the economy but creating a huge bubble that had to burst. The fault of this belongs to both Dems and Republicans. Nobody stepped up to the plate to put a stop to this.

Now, here is the bigger problem. Realizing this, we should understand that we propped up the economy creating this bubble. So what are we trying to do about it? We're going to try to prop it up by forcing more money into the economy. We are doing the same thing, just this time, we're going about it in a different way. This will only devalue the dollar and create another bubble which of course will explode in our faces. Only this time, it will only help ease the pain a bit; it won't create a strong economy.

Because our economy relies so much on home building, this recession is going to get much worse and it's going to drag out for a long time. And before it can get better, someone has to take the losses. We can't just write it all off.

So what is the answer? There isn't a simple one, but one thing that would help is to increase immigration. That sounds like a bad idea when we are already losing so many jobs, but the fact is, the more people, the more services that are needed and the more homes that are needed. Deporting all the illegals is the last thing we should be thinking about at the moment. That being said, increased immigration would have to be selective. Bringing in more unskilled workers is not the answer. We need skilled workers who are willing to work for less within reason. And many of us will need to accept the fact that we will be earning less even when new jobs are eventually created. We have to realize that while costs are still relatively high, the biggest cost for most is home prices. If those remain low, it is easier for people to afford these homes.

Our other option is to cut spending across the board. Everyone lives on less including the government, and we bite the bullet. Everyone pays more in taxes, but we stabilize the economy for the long term, and try to live within our means. This will mean a lower standard of living long term for almost everyone. But, it might actually be a better lifestyle for everyone; we just won't have quite as many toys.

However we come out of this, it is going to mean a more frugile lifestyle for most. The good thing is that by reducing wages, which will be the final result of this, is that we may actually become competitive again in manufacturing. That could eventually turn this around completely making the US much stronger economically once more, but that will take a long time, probably twenty years to reach that point, and that is if we don't completely screw it up by completely devaluing the dollar.

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